Paulson Europe Profit Dips

Jan 6 2012 | 9:56am ET

Partners at Paulson & Co.'s European arm enjoyed what could be their last big payday for some time early last year.

Paulson Europe's partners split a £26.5 million profit in the year ended March, according to a regulatory filing. Most of the money—just under £15 million—went to Paulson Ltd., an entity controlled by Paulson founder John Paulson. The rest, £11.6 million, went to the London-based partnership's other members, among them Harry St. John Cooper, Mina Gerowin Herrmann and Nikolai Petchenikov.

Last year's bonus pool was 17% smaller than the £32.1 million the group split in the year ended March 2010. Next year's is likely to be even smaller, if it exists at all: Paulson suffered the worst year in its history in 2011, with its Advantage Plus fund losing more than half of its value and many of its other funds down by double-digits. Most of those losses occurred during the last nine months of last year; Advantage Plus was down only 1.7% through the first quarter.

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